Exercise 3-7 Polychromasia, Inc. had a number of receivables from subsidiaries at the balance sheet date, as well as several payables to subsidiaries. Of its five subsidiaries, four are consolidated in the financial statements (Green Company, Black Inc., White & Sons, and Silver Co.). Only the Brown Company is not consolidated with Polychromasia and the other affiliates. The following list of receivables and payables shows balances at 12/31/13. Interest receivable from the Brown Company 54,400 Interest payable to Black Inc. Intercompany payable to Silver Co Long-term advance to Green Company Long-term payable to Silver Co 82,420 107,170 136,200 409,700 452,100 Long-term receivable from Brown Company